Warren Buffett's Berkshire Hathaway Reports Record $157.2 Billion Cash Hoard Amid 41% Increase in Q3 Operating Earnings Despite $23.5 Billion Investment Loss

Berkshire Hathaway achieves record cash pile due to rising bond yields and repurchased shares, while insurance subsidiaries create a large profit, offsetting a blow from Apple share decline.

Berkshire Hathaway reported a third-quarter operating profit of $10.76 billion, marking a significant increase of 40.6% from $7.65 billion in the same period in 2022.
The firm experienced a surge in cash pile, recording a record $157.2 billion at the end of September due to rising bond yields, which surpassed the previous quarter's $147.4 billion and the third quarter 2021's record of $149.2 billion.
A significant blow to the conglomerate's profits was a $23.5 billion investment loss largely due to a quarterly drop in Apple shares; Berkshire owns a minor stake in Apple, and the tech giant's shares have rebounded by more than 3% since September 30.
Despite the investment losses, Berkshire's insurance subsidiaries performed substantially well with the insurance underwriting generating earnings of $2.4 billion in Q3 versus losses of $1.1 billion year over year.
In the face of a dearth of appealing acquisition deals, Berkshire spent $1.1 billion on buybacks in Q3 taking the year's cumulative total for share repurchases to roughly $7 billion.